🚀 We’re on a mission to make money work for everyone.
We’re waving goodbye to the complicated and confusing ways of traditional banking.
After starting as a prepaid card, our product offering has grown a lot in the last 10 years in the UK. As well as personal and business bank accounts, we offer joint accounts, accounts for 16-17 year olds, a free kids account and credit cards in the UK, with more exciting things to come beyond. Our UK customers can also save, invest and combine their pensions with us.
With our hot coral cards and get-paid-early feature, combined with financial education on social media and our award winning customer service, we have a long history of creating magical moments for our customers!
We’re not about selling products - we want to solve problems and change lives through Monzo ❤️
Hear from our UK team about what it's like working at Monzo ✨
⭐Our Risk team
Monzo Bank Europe is an Irish-based subsidiary of the Monzo Group and the launchpad for Monzo’s expansion across the European Union. Following our recent authorisation, we are looking for a seasoned Director of Operational Risk & Enterprise Risk Management (ERM) to lead the development, implementation and oversight of our risk frameworks in Europe.
Reporting directly to the Chief Risk Officer, Monzo Europe, you will provide second-line (2LoD) oversight of key operational risks, including ICT, InfoSec, Payments and Third-party and Outsourcing risks, while maintaining our EU enterprise risk governance standards. You will be instrumental in ensuring our growth is safe, resilient and compliant.
🔑You’ll play a key role by...
Operational Risk Management
- Framework & Strategy: Developing, implementing, and maintaining the EU Operational Risk Framework, ensuring full alignment with the overarching European risk strategy and Monzo Group standards.
- Risk Appetite: Formulating and overseeing the operational risk appetite, ensuring it remains calibrated to strategic objectives and business growth.
- Policy Governance: Leading the governance of operational risk policies and standards, performing assurance testing to validate implementation effectiveness and ensure ongoing compliance with regulatory standards and best practices.
- Capital & Scenarios: Leading scenario analysis and validate internal operational risk capital models to ensure capital adequacy and compliance with regulatory requirements.
- Operational Risk MI & Reporting: Implementing advanced monitoring and Management Information (MI) processes, including Key Risk and Control Indicators (KRIs and KCIs), to provide the Board and Executive Committees with a holistic view of the operational risk profile.
- Independent Oversight: Providing high-value, second-line (2LoD) oversight across key domains, including ICT, Information Security, Payments, and Third-Party/Outsourcing risks.
- Incident Management: Overseeing the end-to-end collection and analysis of operational loss and incident data, driving root-cause analysis to prevent recurrence and improve control effectiveness.
- Operational Resilience: Leading the review and oversight of operational resilience initiatives, ensuring the bank meets all requirements under the Digital Operational Resilience Act (DORA) and local regulatory standards.
Enterprise Risk Management (ERM)
- Enterprise Risk Strategy & Framework: Implementing and evolving the Bank’s Risk Strategy and Framework, ensuring it provides a comprehensive, end-to-end view of operations aligned with Monzo’s strategic objectives in Europe.
- Risk Appetite: Formulating and maintaining the Bank’s Risk Appetite Framework and Statement (RAS), ensuring it accurately reflects our risk posture and thresholds across all material risks.
- Risk Governance Leadership: Leading the end-to-end Risk Governance cycles, including the preparation, management and execution of the Executive Risk Committee (ERC) and other key risk forums, ensuring high-quality reporting and effective decision-making.
- Risk Identification & Assessment: Designing, coordinating and maintaining the process-led risk assessment process, ensuring robust risk and control identification and the implementation of effective mitigation strategies.
- Emerging Risk Assessment: Designing and leading a proactive Emerging Risk process, identifying and assessing long-term external threats and integrating these insights into strategic planning and stress testing.
- Risk Taxonomy & Infrastructure: Owning and maintaining the EU Risk Taxonomy, Risk Register, and Impact Matrix to ensure accurate classification and a standardised view of risk impact and reporting.
- Risk Culture: Actively promoting and assessing a robust risk culture across the organisation, embedding risk awareness and accountability at every level of the bank.
- Risk Reporting & Insights: Preparing and presenting holistic risk reports to the Board and Executive Committees, integrating point-in-time data with forward-looking assessments to drive informed decision-making.
- Risk Awareness & Training: Designing and executing targeted risk training programmes for all employees.
- Office of the CRO: Leading the ‘Office of the CRO’ function, overseeing essential resource planning, budgeting, and secretariat services to ensure the Risk function operates at peak efficiency.
Leadership
- Establishing and leading the Operational and Enterprise Risk function in Europe, ensuring high-performance delivery through strategic resourcing, scalable processes and integrated technology.
- Partnering closely with first-line (1LoD) leaders to embed robust risk management into the daily operations and product journeys, ensuring controls are effective and frictionless.
- Ensuring that European Risk frameworks, policies, and standards are harmonised with Monzo Group activities while maintaining full compliance with local Irish and EU requirements.
- Serving as a key member of the second-line Risk Leadership Team, fostering a collaborative, mission-driven environment across the global Risk function.
- Spearheading a proactive risk management culture through high impact training and awareness programmes that embed risk accountability across the organisation.
🤩 We’d love to hear from you if…
- You have at least 10 years of experience in Operational and Enterprise Risk Management within a banking environment, including a minimum of 5 years in a significant leadership capacity.
- You have strong subject matter expertise across ICT, Information Security, Third Party and Outsourcing, Payments and Business Continuity, with a proven track record navigating CBI, EBA, and ECB/SSM regulatory landscapes.
- You have proficiency in the full risk toolkit, including RCSA, KRIs/KCIs, Control Testing, and Scenario Analysis, alongside core ERM processes like Risk Appetite design, Risk Governance and Risk reporting.
- You have a detailed understanding of digital banking products and the unique risk/control challenges inherent in high-growth financial technology operations.
- You have exceptional communication skills, with a demonstrated ability to engage, influence, and provide credible challenge to senior executives and Board-level stakeholders.
- You have the ability to thrive in a fast-paced, evolving environment, translating complex risk concepts into clear, actionable business insights.
- You have a genuine passion for fintech and the drive to be at the forefront of Monzo’s expansion and transformation of banking across Ireland and the EU.
- You have experience setting up and running operational risk and outsourcing processes in Ireland / the EU.
- You have previously held a PCF role or equivalent with a financial services institution in Ireland or an equivalent jurisdiction.
Not ticking every box? That’s totally okay! Studies show that women and people of colour might hesitate to apply unless they meet every single requirement. At Monzo, we’re dedicated to creating a diverse and welcoming team. If you’re passionate about this role and keen to learn and grow with us, we encourage you to apply— even if you don’t have everything that's listed just yet. Drop us your application, we’d love to hear from you!
🙌What’s in it for you
💰 A competitive salary ➕share options.
📍 This role will have a hybrid working model, based in our Dublin office 2 - 3 days a week , however, you will be expected to travel to Monzo’s offices across the EU from time to time.
⏰ We offer flexible working hours and trust you to work enough hours to do your job well, and at times that suit you and your team.
🏝 Annual Leave - 34 days including public holidays (24 holiday days + 10 public holidays)
📚 €1,200 learning budget each year to use on books, training courses and conferences.
🏥 Private healthcare scheme
💰 Pension scheme: the minimum contribution is 4% and Monzo matches any additional contributions that you make up to a maximum of 6%
💛 Wellbeing benefits: financial education, women’s and men’s health support, mental health benefits, including coaching and counselling
🌈 The application journey has 3 key steps
- An introductory screening call with a member of the hiring team
- An initial call with the hiring manager
- A series of interviews assessing technical, behavioural and leadership skills.
This process should take around 2-3 weeks - your schedule is really important to us, so we promise to be as flexible as possible!
We have some guidelines on using Artificial Intelligence (AI) to ace an application and interview at Monzo.
You can read them here.
We’ll only close this role once we have enough applications for the next stage. Please submit your application as soon as possible to make sure you don’t miss out. If you're successful in applying for this role, we'll work with you to find a start date. In some cases, there might be a delay in when you can be released from your current role so that we can make sure things continue to run smoothly. We’ll be sure to communicate this with you and keep you updated.
#LI-ÉS1
Equal opportunities for everyone
Diversity and inclusion are a priority for us and we’re making sure we have lots of support for all of our people to grow at Monzo. At Monzo, we’re embracing diversity by fostering an inclusive environment for all people to do the best work of their lives with us. This is integral to our mission of making money work for everyone. You can read more in our blog, 2024 Diversity and Inclusion Report and 2024 Gender Pay Gap Report.
We’re an equal opportunity employer. All applicants will be considered for employment without attention to age, ethnicity, religion, sex, sexual orientation, gender identity, family or parental status, national origin, or veteran, neurodiversity or disability status.
If you have a preferred name, please use it to apply. We don't need full or birth names at application stage 😊